The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player in the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. It’s also an extremely new product available on the market.